Covid 19 coronavirus: Economic cost of lockdown falls on Auckland, again
1 Mar, 2021 04:35 AM
4 minutes to read
A week at current alert levels is likely to cost New Zealand s economy abut $240 million, ASB bank economists estimate. But the bulk of that cost will fall on Auckland s economy, which is estimated to take a hit of about $200m per week.
While one week isn t likely to change New Zealand s long-term outlook, the re-occurrence of lockdowns was becoming very challenging for parts of the economy, said ASB chief economist Nick Tuffley.
These were rough estimates, which treated the industry composition for Auckland as the same as the rest of the country, he stressed.
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